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Insider Bets Paying Off At AXL As New 52-Week High Reached

By Market News Video Staff, Wednesday, January 4, 1:45 PM ET
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In trading on Wednesday, shares of American Axle & Manufacturing Holdings Inc (NYSE:AXL) touched a new 52-week high of $20.17/share. That's a 76.31% rise, or $8.73 per share from the 52-week low of $11.44 set back on 02/11/2016. That means at today's intraday high, any investor who purchased AXL stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, AXL has seen 3 different instances of insiders buying over the trailing six month period.

Purchased Insider Title Shares Price/Share Value
11/09/2016 Samuel Valenti III Director 10,000 $13.44 $134,352.01
11/14/2016 David C. Dauch Chairman & CEO 50,000 $14.47 $723,361.48
12/14/2016 Peter David Lyons Director 5,000 $17.50 $87,500.00

The chart below shows where AXL has traded over the past year, with the 50-day and 200-day moving averages included.

American Axle & Manufacturing Holdings Inc Moving Averages Chart

In afternoon trading on Wednesday, AXL shares are changing hands at $20.13/share, slightly below the new 52-week high.

This Article's Word Cloud:   American   Axle   Bargains   Chairman   Cheaper   Dauch   David   Director   Holdings   Insider   Insiders   Lyons   Manufacturing   NYSE   Over   Peter   Price   Purchased   Samuel   Share   Shares   Start   Than   That   Title   Valenti   Value   Wednesday   afternoon   averages   back   been   below   bets   buying   changing   chart   company   different   from   gain   hands   high   insiders   over   past   share   shares   trading   week
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